poLight ASA – Increased interest and activity related to TLens® technology
KEY EVENTS
* Smart-phone activity driven by requirements for autofocus (AF) in front-facing camera and interest for high-frame-rate video cameras to support expected 5G driven applications
* Current Chinese OEM screen-size focus poses challenges for implementing AF solutions in front camera
* Increased interest from barcode and AR segments
* Growing interest from new market segments requiring small high-quality cameras
Horten, 15 February 2019 - poLight ASA (OSE: PLT) today announced its results for the fourth quarter of 2018. Revenue of NOK 0.5 million in the quarter was related to delivery of TLens® samples and Evaluation Kits to potential customers. The group operating loss was NOK 15.7 million, compared with an operating loss of NOK 20.0 million in the fourth quarter of 2017. The main explanation for reduced operating loss was lower external R&D expenses.
poLight has experienced increased interest for its TLens technology through 2018 from several industries including the mobile phone sector, barcode segment, AR and for new applications such as smart watches. In the fourth quarter the company delivered five evaluation kits, and as of year-end poLight had delivered 3,765 units of TLens for the full year, compared to 1,700 in 2017.
The increased market activity and interest for TLens products support increased confidence in commercialisation of poLight’s technology.
“Our pipeline of potential customers represents a wide range of sectors relying on high-quality cameras with autofocus. It strengthened further in the fourth quarter and provided additional opportunities for securing our first design win and commercial proof-of-concept.”
Q4 report and presentation
Please find the report and presentation for Q4 2018 enclosed.
Presentation and webcast
CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s results today at 08:30 am CET at Felix Conference Center, Bryggetorget 3, Aker Brygge, in Oslo, Norway.
The presentation and supporting material will be given in English. The presentation can also be followed through live webcast.
Please join the Q4 2018 results webcast by clicking here:
http://webtv.hegnar.no/presentation.php?webcastId=97603209
A recorded version of the webcast will be made available on www.polight.com shortly after the broadcast has been concluded.
Further information from:
Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
Alf Henning Bekkevik, CFO, poLight ASA: +47 91 63 05 14
About poLight ASA
poLight has developed a new autofocus lens which "replicates" the human eye for use in mobile devices and other applications with integrated cameras. poLight's TLens® is ready for introduction in the smartphone camera module market, offering considerable benefits such as extremely fast focus, compact xy-dimension (i.e. small footprint), no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with offices in Finland, France and China and representation in Taiwan and Korea. For more information, please visit https://www.polight.com